SEGRO gives positive update on values and earnings

SEGRO is predicting a 4.8% rise in the value of its portfolio in an update on its full year results for the year ended 31 December 2016.

The industrial property giant also reported a 3% rise in values during the second half of 2016. The group will issue its full year results on 17 February.

SEGRO stated the valuation rise was a result of a combination of strong rental value growth in the UK portfolio, supported by modest yield compression. Factoring in the total valuation uplift, as well as the impact of the equity placing in September 2016, SEGRO expects its net asset value per share for the year to be at the upper end of the range of analysts’ estimates.

Since the last trading update in October, SEGRO has completed 19 of the 27 development projects in its active programme. As a result, SEGRO expects adjusted earnings per share for 2016 to be at the upper end of the range of analysts’ estimates.

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